Blackrock beats analysts' forecasts despite outflows in Asia Pacific
US asset manager Blackrock registered a small decline in profitability despite top line growth in the three months to 30 September.
Blackrock Inc.
$1,039.28
11:04 08/11/24
0.31%
$3.22
Company chief Laurence Fink highlighted the firm’s risk management and returns performance despite the challenging “market conditions,” which drove net inflows of $50bn.
Long-term net inflows of $25.5bn and $17bn in the Americas and EMEA regions, respectively, were partially offset by net outflows of $7.5bn from clients in Asia-Pacific.
The company registered a 4% decline in adjusted earnings per share in the third quarter to reach $5.
That was better than the $4.53 which analysts had pencilled in.
Top line growth printed at 2% to reach $2.91bn.